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Corn price suffers strong losses – Analysis - 24-02-2023
Corn price faced strong negative pressure in the previous sessions, to break 673.50 and decline sharply, approaching 38.2% Fibonacci correction level at 652.10, to head towards achieving more expected decline on the intraday basis, noting that breaking the last level will extend the correctional bearish wave to reach 634.80 as a next station.
Therefore, the bearish bias will be expected for today, supported by moving below the EMA50, taking into consideration that breaching 673.50 will lead the price to recover and attempt to regain the main bullish trend again.
The expected trading range for today is between 650.00 support and 670.00 resistance.
The expected trend for today: Bearish
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The USDCHF breaches the resistance – Analysis - 24-02-2023
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The NZDUSD pair tests the correctional bearish channel’s resistance now, and the EMA50 meets this resistance to add more strength to it, waiting to resume the negative trades to test 0.6140 that represents our next main target.
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